Product Development Strategy Definition using Qualitative Patent Analysis

Abstract

Every new product development has a few essential phases that are carried out before their research and development activities. These include seeding the idea, enriching it with a robust concept, identifying potential market, estimating the revenue streams and developing key features that define the product and value chain of the product. One of the important aspects considered while realizing these phases is IPR status and strategy. This paper elucidates key metrics for qualitative patent analysis and methods to improve the IPR strategy with respect to the product chain. This approach puts forth an efficient way to reduce the licensing cost to a company and develop competitive advantage in a technology.